Billionaire Usmanov ups stake in MegaFon owner

7 Oct 2013

Russia’s richest man Alisher Usmanov’s USM Holdings has acquired a 13.5% stake in Garsdale Services Investment Limited from businessmen Sergei Adonyev and Albert Avdolyan, boosting his ownership of the entity to 95.5%, a spokesperson for USM Holdings has confirmed. According to Dow Jones Newswires Russian state corporation Rostec retains the outstanding 4.5% of Garsdale. TeleGeography’s GlobalComms Database notes that Garsdale owns 50% (plus one share) in Russian mobile giant MegaFon.

Russia, MegaFon